SPACE INDUSTRY SLOW START

SPACE INDUSTRY SLOW START

The space industry has been around for well over half a century now and is still in its infancy. Due in part to Government controls and the high costs associated with getting a payload off the ground. Space is still inaccessible to the public due to the high costs of getting there.

The U.S. Government finally opened the door to the private sector a few years back to get involved in space ventures. Thanks to NASA and government funds to help build a new industry.

During the past 10 to 15 years the Space Industry has been slow to advance. Why?

The answer to that question lies in one word, “Profits”. Most companies do not venture into an area that they don’t see high profits in short periods of time. The same is true with Angel Investors, Venture Capitalists and so on.

The underlying problem always comes back to “Money”. To finance this industry requires deep pockets such as the recent influx of Billionaires or Governments. Huge corporations are reluctant to get involved because of the amount of time it will take to recoup the initial investment.

That is where 1st Space Bank and 1st Space Financial Institution come into the picture. Soon it will be the place for Entrepreneurs of all kinds to go to for financing their dreams and viable startups. They will come to us to get the initial funding to start their businesses without the fear of losing their ideas and companies to outsiders.

1st Space Bank and 1st Space Financial Institution will provide the funding and all of their banking needs. We will have a vested interest in their success and therefore will work with them all along the way. The current problem we see is the fact that to many people want quick profits and the ability to sell their investments at huge profits.

The Space Industry is the next generation in man’s evolvement. At the beginning of the 19th century it was called the Industrial Revolution today it will be called the “The Space Industrial Revolution”. Like J.P. Morgan did during that time we are doing for this time.

The solution to increasing the speed of development for the Space Industry is plain and simple making money more accessible to those that need it to build the future of mankind as a space faring race of beings.

The Space Industry is not a Billion dollar industry it is a Trillion dollar industry and as such needs that kind of financing available. This industry is so huge and the profit potential is so great we would be fools not to invest in it.

A recent article by Jeff Foust at Space News.com

A Decade into a New Spaceflight Era, a Mixture of Frustration and Optimism

“It really has been frustrating to be 10 years into commercial space, 10 years from the X Prize, and not see a proliferation of activity, of people flying regularly,” Brett Alexander, director of business development and strategy for Blue Origin, said. Credit: Photo by Heriberto Ibarra

LAS CRUCES, N.M. — Ten years after the completion of the Ansari X Prize appeared to open a new era of commercial human spaceflight, company executives and government officials at a commercial space conference expressed a mixture of optimism about the future of the industry and impatience at the perceived lack of progress over the last decade.

“I’m actually quite frustrated with the pace of commercial space,” said Brett Alexander, director of business development and strategy for Blue Origin, the privately funded spaceflight company led by Amazon.com founder Jeff Bezos.

“It really has been frustrating to be 10 years into commercial space, 10 years from the X Prize, and not see a proliferation of activity, of people flying regularly,” he said in a presentation at the International Symposium for Personal and Commercial Spaceflight (ISPCS) here Oct. 15. Read more of Jeff Foust’s Article at Space News….